The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-05-30
GREEN Us. HUNTINGTON.
THE WITCH OF WALL STREET
DECLINES A scheme
In Connection With the Houston and
Texas Central asd Pro-
poses q Suit.

NEW YORK, May 29.-Mrs. Hstty
Green, the richest woma I in America,
whose great 6naDcii al ability has made
her a power in Wall street, and VIII SO
personal eccentricities have been made
the theme Of many a newspaper arti.
Gle, has caused new sensation by re- |
fusipg to become party to the agree.
ment entered into between the bond |
holders OF the Houston and Texas |
Central railway. This road is part |
of Huntington's Southern Pacific sys- |
TEN and Mrs. Green, by her action,
has actually pitted her wealth and
her cunning against the wealth and
cunning Of U. T. Huntington and his
associates, Wall street men, usually
gallant where women are concerned,
have no great liking for Mrs. Green
and her close business methods, but
on the other hand they are not part c.
ularly in love with Mr.. Huntington,
whose genius for driving bargain s
matter OF common fame, 30 they will
watch this contest with impartiality
but with intense aud lively interest.
Mrs. Green evidently means bust.
ness, and 1t is probable that che will
bring suit to maintain what she IN
sidera to he her rights in the reorgani.
cation { ( the Houston and texas Gen.
tral. She has already placed the mat
ter in the hands of her attorneys, Sui
livsn & Cromwell, of which firm AL
gernon S. Sullivan ia the head. Tbs
members OF the firm declined yester-
day to make known what they intend
ed to do in behalf of Mrs. Green, stat
ing that it would be improper for
them to make pu bic the business OF
client. From other sources, however,
your correspondent obtained the story
OF this remarkable complication. U.
p. Huntin ON and his associates own
Central, which they picked up at q
very low price, said to be near 10. The
bonds of the road are widely held,
Mrs. Green owning sbont 81 ,000, 900 of
the general mortgage bondP, beside a
large amount OF the first and second
mortgage bonds. The road doesn't
run through very productive sec.
tiop, but owns an enormous grant OF
pub ic land, and its future is believed
to be bright. 1t defsulted
on the interest two or TIRES
years ago, and some time after the
bondholders held an Indignation
meeting in the office of Foster Hig-
gins and some things were eaid about
Mr. Huntington wnich were not very
pleasant. 1t was even intimated that
Huntington was engaged in scheme
to wreck the property, in order to get
1t more securely within his grasp
Finally, however, the bondholders ap'
pointed a committee composed oil
Henry Bulge, oil Hsllgarten & Go.
VIM. Mertens, of VoDhoffman & Co.
Thos. l. Monsoon, IT,, of Chas. Head
& Co.; Frederick Taylor, Il. K. Pom.
eroy, Charles Robinson Smith and
VIM. J. Quiplsn, jr. Mr.. Qdinlsn il
cashier of the Chemical National
Bank, in which Mrs. Green has hel
, account, and he was put on the com
mittee as her personal representative
This committee arrived at an under
standing with Mr.. Huntington, and {
plan OF reorganization was drawn up
under which 1t is proposed to issu'
new first mortgage bonds bearing
per cent. interest, and to run fi'ty
years, in exchange for the present tiv'
year first mortgage bonds, new SECOND
mortgage bonds bearing 6 per cent
interest, in txchange for the present
per cent. second mortgage bonds, ant
new general mortgage bonds TO bear
! per cent. in exchange for those which
now bear 6 per cent. interest. Tn
Z first mortgage bondholders are to &c
their past due coupons in cash an,
/ the others in debenture bonds. Yes
terday was the last day in which bond
j. holders could come in under thi
plan. There are $4,326,00O geners
4 mortgage bonds, of which 1880 0C0 az
in dispute, being tied up ss colla.ers
ia the hands OF the Morgan line Q
steamships. OF the remaining g, 446
O 600 there had sssented to the plan 9
the close Of business yesterday 81. 127
600, large maj 1rity of the bonds.
. Tbs BoudhoIders' Committee hav
a all along counted on the support {
u Srs Green. With that object in vie
:; Mr.Quinlan was put on the COMMITTEES
J., and repeated conferences have bee
q held with the lady at the Chemici
d. National bank. Mrs. Green attend
q to all her business personally, thong
% her husband, who was once presidet
as OF the Louisville and Nashville, is liz
B. ing and is shrewd business man.
8, is stated positively that Mrs. Gree
a promised to place her bonds with ii
4 committee in assent to the reorganiz
TX ton plan as soon rs holders OF 81, 200
So 600 OF them had done so. All wa, 8
B. rene and peaceful until Monday, whe
g the committee discovered that Mr.
u Green had changed her mind. Men
IL bers of the committee, however, use
stronger term than "changed hI
mind" They say she deliberate
broke her promise" and while di
r. inclined TO make a public attaC
upon a woman do not disguise the
=, diegust at her conduct. Mrs. Gree
=, is the daughter of a New Be
.I- ford whsler who left her comfortab
y fortune fourteen years ago, which 81
70 has increased by her own exertio
20 till Dow she is believed to be the ric
" est woman in America. Her last gre
IN feat in the financial world was whit
~ she suddenly sold ont all her intere
~ in the Georgia Central road during
40 hot fight for the control Of the col
~ psny. She had for years supports
VI the administration party, but deeert'
~ them, sold all her holdings and Il
a old friends to defeat.